California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

California  + San Diego  + Healthcare  | 
Marcus & Millichap Arranges $4M Sale of Medical Office Building in San Diego

San Diego Medical Building Changes Hands for $4M

Marcus & Millichap has arranged the $4 million sale of 4th and Palm, a 3,700-square-foot medical office property in San Diego. The buyer was 4th Avenue Property Owner, LLC, a Brooklyn, NY-based developer. 

Marcus & Millichap’s First Vice President of Investments Nick Totah, along with Senior Associate Ross Sanchez had the exclusive listing to market the property on behalf of the seller, Michael Rush, LLC. The buyer was represented by Matt Kennedy of Voit Real Estate.

The building is located in the Bankers Hill neighborhood of San Diego and was long occupied by the seller who operated a dermatology practice. The buyer is acquiring the site for its land value and plans to develop it in the future given its location and favorable zoning.

Connect

Inside The Story

Marcus & Millichap The Totah GroupVoit Real Estate Matt Kennedy

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

Step 1: Select Education
  • ◦Sale/Acquisition
Chase-19-cube
Money360-26-cube